FHFA Gives Update on Conservatorship and GSE Reform

first_img Servicers Navigate the Post-Pandemic World 2 days ago FHFA Gives Update on Conservatorship and GSE Reform Related Articles October 28, 2019 1,491 Views Demand Propels Home Prices Upward 2 days ago  Print This Post Fannie Mae FHFA Freddie Mac 2019-10-28 Seth Welborn Home / Daily Dose / FHFA Gives Update on Conservatorship and GSE Reform Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborncenter_img The Federal Housing Finance Agency (FHFA) recently released a new Strategic Plan for the Conservatorships of Fannie Mae and Freddie Mac and a new 2020 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions. According to the FHFA, the three objectives of this new Strategic Plan and Scorecard are to ensure that the GSEs foster competitive, liquid, efficient, and resilient (CLEAR) national ​housing finance markets; operate in a safe and sound manner appropriate for entities in conservatorship; and prepare for their eventual exits from the conservatorships.“Our nation’s mortgage finance system is in urgent need of reform,” said FHFA Director Mark Calabria. “The vision for reform articulated in the Strategic Plan and advanced in the Scorecard will serve borrowers and renters by preserving mortgage credit availability, protect taxpayers by ensuring Fannie Mae and Freddie Mac can withstand an economic downturn, and support a strong and resilient secondary mortgage market.”Part of the FHFA and the GSE’s plan to protect taxpayers has included the uniform mortgage-backed security (UMBS). Fannie Mae and Freddie Mac marked the completion of their Single Security Initiative with the launch of the UMBS on June 3.“UMBS is the result of close collaboration with FHFA, Freddie Mac, Common Securitization Solutions, and hundreds of housing finance stakeholders and we congratulate all involved on this achievement,” said Renee Schultz, SVP, Capital Markets, Fannie Mae in a statement. “We remain focused on ensuring that all market participants continue to make a smooth transition to UMBS and maintaining a highly liquid housing finance market.”Fannie Mae and Freddie Mac are also preparing to transition out of conservatorship. Speaking at the Eighth Annual AEI-CRN Housing Conference, FHFA Director Mark Calabria stated that he “never thought [he] would see a conservatorship longer than six months.”“I have a responsibility to fix them and get them out,” he added. Previous: Ellie Mae Acquires Capsilon Next: Changes in Housing Policy The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Subscribelast_img read more

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